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said they will back down on taxes as long as there is one condition. >> steve: this time the white house has a better idea. wait until you hear who they are bringing back to lead the negotiations. yimpt powerball jackpot. $425 million . if you think you are more likely to get struck by lightning than win it big. the guy who won eight times who has the secret. >> steve: does he have the numbers. >> brian: "fox and friends" begins now. >> steve: hi, folks, live from studio e. i am sick of turkey. and i am sick of gravy. we had it five-days. >> gretchen: i know, i have a big huge bird sitting in my refrigerator and attempt to make soup out of it later today. >> brian: so it is not alive. >> gretchen: it didn't gobble. >> brian: i went to the movies and i have another movie. >> gretchen: i saw santa claus over the weekend. >> brian: ian loves it. i will tell you in a while. >> gretchen: no. >> brian: steve, saw one of my recommendations on saturday and you feel. >> steve: i am stopping to listen wu. >> gretchen: can you tell us now. >> steve: some of his movies i like a lot. >> gretche
. it was a little vincent price h priceish. charlie: we try not to make fun of steve cohen but it is a possibility. it is a possibility -- here is the thing. you have to go back to a 2011 lawsuit by fairfax financial who sued steve cohen saying they would emulating the stock a fairfax. the case is still open but he has been dropped from the case, steve cohen had to give a deposition, fascinating reading. i have read it. one of the more interesting quotes we should put on full screen because it is interesting about what he said. this is what the attorney -- your understanding of the rule is there are times when you are permitted to trade on the basis of material nonpublic information, i can't give you a yes or no answer. liz: hard enough not to perjure himself. charlie: sec capital announced in the conference call the sec staff filed a wells notice recommending charges against sec over insider trading and compliance with what i can tell you government investigators believe and fairfax financial believed because there ii other stuff that steve cohen does not have compliance systems in place to basic
at the white house briefing. the panel. steve hayes for the "weekly standard." kirsten powers, columnist for the daily beast. syndicated columnist charles krauthammer. okay, steve, it seems with republicans splitting that would be a nonstarter. >> yeah. i would think it would be a nonstarter. one of the very few things that democrats could do at this point to get republicans to run away from the table. i think that republicans came up the day after the election and said look, we are open to new revenues an we understand we want to get new re-knews -- revenues to generate new revenues but we are open to new revenues. they thought of that with the hope and expectation that democrats would come with specificity on the spending cuts or entitlen'ts. however naive the expectation might have been. what we are seeing now is the president seeming to be entertaining any of a number of suggestions, including going over the cliff or decoupling. that would avoid, allow him to avoid having to prevent specifics on entitlements and spending on the things that the republicans were hoping could bring them
-eakin and aol co-founder steve case, at the aspen institute for 30 minutes. >> next we have a panel on america and where it is going, steve clemens -- steve clemons is the empress area of washington ideas. >> hey, folks. everybody is running to the thompson reuters counter. thank you for joining us. great to be with you. i am steve -- steve clemons, editor of large of the atlantic, i want to compliment the museum and tell you how historic this is. this is a jam packed day. the google party is coming up, this is one of three times in the history of the museum that they have allowed an outside group, the other happened to be the president of the united states and madeleine albright when she was secretary of state, this is the third time for a during the day session here, this is a great partnership. i think the -- i have a friend here, allen was the founder of circuit city, just apparently wrote the rise and fall of circuit city and to some degree they are uncomfortable truths, when you think of nations and companies, there are rise and fall stories and the united states is so clean not on the f
>> gretchen: we're back with photographer steve shapiro. check out his new book. chevy chase story. you are the godfather to whom? >> actually we're godparents to chevy chase's daughter, sydney, who is in that picture. my wife and i. chevy is incredible in terms of playing the piano. >> steve: we'll talk about that in the after the show show. bill: that is cutting it tight. good morning, everybody. breaking news and facing some of her biggest critics. ambassador susan rice goes to capitol hill this hour where she will meet with republican lawmakers who have been furious with her initial remarks on libyan terror attack. how will this story go? that is our lead morning. i'm bill hemmer. martha: i'm martha maccallum. about five days after our consulate was attacked on september the 11th we all remember ambassador rice went on all five sunday shows and said the killing of the ambassador and three other americans was actually the result of a spontaneous mob sparking outrage, those comments did, from top gop lawmakers including these three senators, mccain, graham and ayotte. >> don't we
it makes. the former stryker ceo is joining me now in a fox business exclusive, steve mcmillan. the numbers were staggering i thought, 90,000 people die after they go in for one thing in a hospital and get some type of weird infection in the hospital. >> that's exactly right, liz. with staph, mrsa, all these things, we're effectively having a plane crash in this country, if you think about it. liz: all kinds of weird stuff? >> all kinds of various infections. people are getting concerned about going in for surgery because almost everybody knows a family member, a friend who has come out of the hospital and gotten sick afterwards. and we can now stop this. liz: david darst is leaving the set and he said a famous market participant in new york here, same thing, he got a hospital infection and died. >> and they are now preventable. we really think we have got the product that can help eliminate this. the huntsman cancer center put it into their toughest unit they had in the hospital. liz: that was your test hospital? >> they put it in their bone marrow transplant unit. they decided let's put t
right now? let's talk about that in our clo"closing bell" exchange. steve liesman will have breaking news momentarily. steve, do you have that? >> yes, i do. what we have is a report from the new york fed on consumer finance. what the news shows is that overall, consumer credit outside of real estate is up just a bit. most of that, by the way, is student loan debt, being up about $42 billion inside that $2.7 trillion number. overall, mortgage debt is down and overall debt is down. the basic gist of the details, bill, is that consumer credit continues to decline overall. delinquencies are down and bankruptcies are down. balance sheet repair continues. a little bit more willingness of the consumer to take on some debt and a lot of it -- >> that's very interesting, steve. let me ask you something, david. >> i want to make one more point, which is that when you talk about how much the dow is down today, it should be down more because the rally we didn't have from the better economic news this morning. >> yeah, no, that was a good point. david, so we've got consumer confidence data, which
in congress. >> harry reid moves towards the nuclear option to stop the obstruction in the senate. steve benan joins me next on the latest on the filibuster showdown. >> the emphasis on benghazi has been publicized. >> first thomas risks rolled fox news. today fox news responds by trying to smear thomas risks. >>> and the right wing bubble on the economy bursts again e. >> the president's economic policies have failed. the american people know it. >> i have a new term. it's called obama noma. he's such a cancer to the economy. >> to call this an economy is an insult to recoveries. >> the numbers don't lie. we'll lay them out for you, tonight. that was me... the day i learned i had to start insulin for my type 2 diabetes. me... thinking my only option was the vial and syringe dad used. and me... discovering once-daily levemir® flexpen. flexpen® is prefilled. doesn't need refrigeration for up to 42 days. no drawing from a vial. dial the exact dose. inject by pushing a button. flexpen® is insulin delivery... my way. levemir® (insulin detemir [rdna origin] injection) is a long-acting insulin u
. steve harrigan with the news live in cairo. steve? >> it took 18 nights of street protests, almost two years ago to drive out hosni mubarak from power. now we're on night number five of protests again egypt's first democratically elected president and for the first time, the sound of the protests feel exactly the same as those that drove out his predecessor. even some of the chants are the same, leave, leave. those protesters came from a number of different political parties today totaling more than 200,000 people. they were chanting, they were violent at the edges of the protests, mainly the younger protesters battling with police, squirmishing on the edges with rocks and tear gas as well. as far as president morsi goes, his show of compromise by meeting with judges yesterday has largely been rejected by the protesters. instead, opposition leaders say there will be no compromise, no deal with the president until he backs down completely and rescinds his decree. otherwise, they say they will stay out here on the streets. shepherd. >> shepard: steve harrigan live in cairo. for years, wo
the nuclear option to stop the obstruction in the senate. steve benan joins me next on the latest on the filibuster showdown. >> the emphasis on benghazi has been publicized. >> first thomas risks rolled fox news. today fox news responds by trying to smear thomas risks. >>> and the right wing bubble on the economy bursts again. >> the president's economic policies have failed. the american people know it. >> i have a new term. it's called obama noma. he's such a cancer to the economy. >> to call this an economy is an insult to recoveries. >> the numbers don't lie. we'll lay them out for you, tonight. >>> thanks for staying with "the ed show" tonight. the story goes to the heart of what we deserve. if we elect someone to the senate, we expect them to do what? get something done. unfortunately the republicans have been using the filibuster to block legislation. now the democrats want to change the rules to keep the next group of republicans from doing the same thing. we'll talk about those changes in a moment. first republicans have used the filibuster and really used it as well. it
to the financial system. >> steve, if only the market could focus on just the economy, which actually seems to be chugging along okay. if you look at durables, consumer confidence, the ongoing recovery and housing, it's the overhang of the cliff that's spooking everybody. >> yeah, we've had somewhat better numbers. the new home sales today, not great. maybe sandy affected even though the government said it wasn't. the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go ahead and invest in the economy. after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang b
as the appeals report suspends work to protest the decrease that gave mohammed morsi near absolute powers. steve harrigan is live in cairo with the very latest, steve. >> those protestors are out again for the 6th night in a row at tahrir square scuffling with police. we've seen exchanges of rocks and teargas on both sides, several protestors coming away injured, police injured as well. nowhere near the numbers we saw last night where as many as 200,000 demonstrators were in the square. they are demanding not only that the president pull back on his decrease but the entire government gets toppled. judges from two of the courts including the appeals court has gone on strike. they say they are not going to work again until the president takes a step back. we are seeing no comprises from president mohammed morsi. in fact we are hearing from his supporters in the muslim brotherhood that they plan on staging major marchs across the nation on saturday in support of mohammed morsi. they have kept their distance perhaps trying to reduce of conflict between two sides. megyn: steve harrigan thank you. new
watching in cairo. that's where we find our very own steve harrigan with more. >> reporter: jenna, the protesters are out once again in tahrir square tonight but in much smaller numbers than we saw last night. last night the hugest protests so far. as many as 200,000 people in the square. many of them calling not just for president morsi to withdraw his decree for his entire government to fall. as you mentioned, judges, in two of the major courts in egypt have gone out on strike. going out on strike until morsi repeals his decree entirely. for the first time we're hearing about public support for president morsi from his main backers, the muslim brotherhood. up until now morsi supporters have kept away from these demonstrators. now the muslim brotherhood say they will carry outa nationwide march on saturday, a real show of the popular support for the president. it may be that the tactics of the government will simply be hands off on these demonstrators in hopes these protests now after six days will begin to fade. jenna, back to you. jenna: steve harrigan live in cairo on the deve
's foreign minister to discuss the crisis. where are we? steve harrigan with the news live tonight from cairo. steve? >> shepard, we're hearing some pretty regular small explosions behind us right now. that is tear gas being fired. so much tear gas has been fired in this section of cairo in the past four days it's basically hanging here like a cloud. today we saw president morsey make some attempt at compromise reaching out to some of his harshest critics, the chief judges here in cairo trying to assure him that the powers that he assumed are only temporary and only apply to, quote: sovereign matters without really defining what those sovereign matters are or changing the decrees that gave him that power in any way. those moves are unlikely to satisfy the protesters out on the street and tomorrow they're planning a major march against the president. initially there was a second march planned as well. this time why the muslim brotherhood in support of the president. they cancelled that one due to fears of violence after four days of street protests here. 400 people wounded. one killed tomorro
resolve one way or the other. i think this is one of -- >> steve, he brings up a good point. consumers are not worried about the fiscal cliff. intraday trading today shows investors are worried about the fiscal cliff. who's right? >> well, consumer confidence showed that consumers are excited about housing. i think that's the one small bright spot that we've all seen that people can take benefit of low interest rates to buy homes, to renovate their homes. i think that's a small shining spot. >> but the spirit of the question is, should we be worried about the fiscal cliff? are we making much ado about nothing? >> well, consumers should understand that out of the $610 billion possible impact of the cliff, $400 billion is coming right out of the consumers' pockets. i think the answer to your question is they should be concerned with it. they're not educated enough on it to understand that $400 billion comes directly from their pockets. >> don't go anywhere yet, folks. we have some breaking news. earnings out from your favorite company, herb. >> i've said all along this company cannot aff
, it is wednesday november 28th, i am brian flores. >>> and i guess this is the beginning steve of a very big storm. >> yes. >> he paused. >> not all in one day. >> that is correct, brian and pam, if you leave right now you might miss it, i only had a few sprinkles and the main core is still offshore but it is getting close and you can see rain is starting to pick up a little bit. we see the yellow and green and
. here to talk about the life and legacy for show box and boxing historian, good to see steve. >> thank you, steve. >> dave: he was an interesting character in and out of the ring, a showman, an entertainer, not just a good boxer, are you surprise the way the sad story ended. we should say, drugs were found where he was shot and he had some drug and crime issues out of the ring. >> unfortunate with some boxers some in common and sad. i can't say that anyone who knew him and i was there at his debut right down the block was that surprised by something like this. >> dave: why? >> because even when he was starting as a boxer, he was living on the edge. there was always drug use, there was always partying. he was an entertainer and he didn't seem to be able to turn off, you know, that part of him when he was outside the ring and he had one good time, great smile, always an entertainer, always a character, but didn't take care of himself and very self-destructive. >> dave: the guy was a very good boxer for over three decades and considering a fight coming back, i think next year, right at ag
on corning at 7%. >> this is a stock -- everyone loves corning technologically including the late steve jobs. it's been a dog of a stock. >> goldman likes things that have exposure to men. >> foot locker and crocks come out as their buys. steve madden is a sell. i think foot locker as nike. those who want to play nike, substantial chinese business and over inventory. you want to say the best way to think about nike going over par, genuine "wall street journal" for 100 is look at foot locker and say they sell a lot of nike. >> they say we favor athletic for the stickier male customer base which sounds disgusting. >> yeah. >> the countdown to christmas marches on. did cyber-monday kill black friday this year? we'll explore that question. santelli talks to sheila bair. here what she has to say about banks, fiscal cliff and bailouts. first, the opening bell. tuesday trading action when "squawk on the street" comes back. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with peop
.a.c. management and it's unclear whether steve cohen himself will be on the call will be briefing investors of what's going on of late, notably this case filed last week. and this case is important because for the first time it would appear that steve cohen the fund founder has implicated himself in one of the trades involved, although we don't know what knowledge he had and whether he knew that martoma alleged improper information. having said all that, it's unclear what s.a.c. is facing in terms of investor redemptions. i reported last week on one money manager who under pressure from individual investors in its fund were redeeming capital. now, the next window to take capital back is actually not until early 2013, but that party filed a bit early. as of yet i was hearing there are other individual investors who are in s.a.c. either through funds of funds or in this case through private brokers who are feeling very uncomfortable about it. and they are almost looking at s.a.c. as a stock that could go to zero if these legal issues get serious enough. now, their advisers, money managers are
've got bill gates and steve ballmer face share moerld questions at microsoft's annual meeting today. below $27 a share, i'd love to ask a question. better than expected outlook for the apparel retailer and better than expected green mountain coffee, that thing is up. 22% the gain. 57 down for the dow. it's another sign that housing could be bouncing back. sales of luxury homes rising, but price down. and two luxly houses were sold after they were significantly marked down. ♪ >> let's go fast through this. the dow jones industrial average is down 57 points. more importantly, the price of oil is sharply lower. down a buck 38, $85 a barrel and more importantly, the your morning gold report way down, and buy the gold coins for christmas, on. sales of homes, people look for good investments and also, many of the expensive homes are much cheaper than they used to be. and joining us, she's going to show us two homes, and welcome back. i've got to start with the first house in phoenix, sold, i believe, in july of this year, 960,000 bucks way down from the michigan price, tell me. >> yes,
described this as 13 -- routine. that is true but the heat is turned up on sac and steve cohen himself. lori: he has to be preparing >> this is due. he has not been charge. sac has not been charged. with the indictment on matthew the% that he shared the information with, it is clear irritation not clear if he said inside deprivation by sharing itself was steve cohen. as we first reported they tapped his phone and have been going after him four years. they have about seven people around him and it is very decentralized it is known as the hub and spoke other managers go to him with their best ideas a. the notion is to they bombard him with those ideas? to say i have the legal tip. this is a big band. his money is in this but this fund will see the final run. let's just say the fed cannot get anything on him with a don't ask don't tell operation. the government as ways to shutdown if they think you're not compliant or if you ignore compliance or ignore it if they go activity. -- illegal activity. senior government officials say he is problematic. i think insider trading is a victimless crime th
that fired steve jobs. [ laughter ] >> chris: she had a second act. she started a company called urban decay and in 1996 she bought the farm. >> it's been historically people who had disposable income that made strides in farming. look at george washington. >> she raises war horses that go back centuries. scott hyland cattle and turkeys she says tastes better. >> chris: how much does a turkey cost compared to the grocery store? >> our turkeys are expensive, i think they are running about $160-200. >> there are questions about how to make this kind of farming profitable but while she is determined to run a sound business it's not just about the bottom line. there is a 40 room mansion on the farm. >> chris: what it is like to live in there? >> i don't know. >> chris: do you think you are a bit eccentric? >> i now that i'm rich. i use to be just weird. >> chris: she grew up on a family farm and she wants to see those values live on? >> i'm a cow girl. i can tell what they are thinking. it's my success which is what george washington was. i've become a good farm are. >> chris: sandy learner sold
're going to do it my way or no other way? we're going to raise it to 90 -- to 39.6%. steve rattner had a great column yesterday. >> it's a must-read. >> you know there's more than one way to skin a cat, more than one way to raise over a trillion dollars in revenues. it doesn't just have to be the president's way. is the white house going to insist on the 39.6% tax rate, or will they consider the loophole part of it plus capital gains, plus a couple of other things? >> well, it looks to me like the white house has learned something over the course of the last four years which is that you don't start a negotiation by negotiating against yourself. >> right. >> you know, the president's taking a hard line right now because he feels as though he campaigned on this issue pretty strongly for the past year. but the president has been willing to compromise on a lot of things in the past and, you know, it's right for him to stake out a tough negotiating position and then maybe make his way to a less strident or a less -- not strident -- but a less -- a more flexible position down the road. >> yo
administration's story. stay with us. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >>> breaking news tonight on the libya mess. a new allegation that the obama administration still cannot get its story straight after so much time, even as recently as this morning. ironically, this latest charge flows directly out of an attempt at damage control. u.n. ambassador susan rice's trip to capitol hill, she and the acting cia director, michael morell, meeting with republican senators john mccain, kelly ayotte and lindsay graham, who were not pleased with what they heard. >> it is clear that the information she gave the american people was incorrect when she said it was a spontaneous demonstration
will join us to tell us. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks or jumping into the marke he goes with people he trusts which is why he trades with company that doesn't nickel and dime him with hidden fees. so he can worry about other things like what the market is doing and being ready no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. liz: we have some breaking news on that website many of you might have jumped on, in trade, the betting website letting you bet on just about anything. >> if you're an american citizen, you have to get off the site by the end of the year. making that announcement breaking news right now as the cftc sued the ireland-based in trade and company over illegal trades wanttrade law people to get illegal trades on the price of gold and currency. you are getting this website intrade, u.s. customers must close their account and withdraw funds from the site by december 31. before the
... steve jobs. >> chris: learner had a second act. she started a cosmetics company called urban decay with edgy colors for women like her and in 1996, she bought the farm. >> historically, people who had the disposable income who made strides in farm, look at george washington or thomas jefferson. >> you are a pretty girl... pretty is as pretty does. >> chris: she raises shires, war horses that go back centuries. scotch highland cattle and, those turkeys, which she says taste better because of the lives they lead. >> chris: how much does one of these turkey cost as compared to what i get in the grocery store. >> our turkeys are expensive, they are between, i think they are running 160 to $200. >> chris: at those prices there are questions about how to make this kinds of farming profitable. but, while she is determined to run a sound business, it is not just about the bottom line. there's a 40 room mansion on the farm. >> chris: what is it like living there? >> i don't know. >> chris: what do you mean. >> i don't know, i live in a log cabin and i love it. >> chris: do you think you are
communicate with strategic a fact. i think you touched, steve, on an important piece which is the superiority conflicts, if i can put it that way. china fell to they were abused by major powers through the 19th century and well into the 20th century. that has an interesting counterbalance, which as they seem to have a bit of a superiority complex about the solutions they are building about how china emerges as a global power. this containment peace is a bit of a challenge. the entire challenge their -- the chinese are making claims with respect to the sea are fairly outrageous. what they're looking for at the end of the day, i think, is respect -- respect at the table and for who they are and what they're doing. somehow we need to find the means to bring these two solitudes together. at the end of the day, any conflict, whether it is kinetic or otherwise, that affects the flow of trade through that part of the world will have an impact globally. >> it is doing it now with china and japan. you have to of the biggest economies in the world in a nightmare situation that raises the fundamental qu
the money actually goes. ♪ [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. look this isn't my first christmas. these deals all seem great at the time... but later, not so much. this isn't that kind of deal. [ male announcer ]reak from the holidaytress. save on ground shipping at fedex office. liz: here we go, it's s&p futures closing right now. larry at the cme, how does it look? >> well, it looks like it's a convictionless market. it's eerily close what happened 16 months ago. keep in mind right now people are being lulled to sleep in thinking that this fiscal cliff will get figured out, just like 16 months ago. we would never lose our credit rating, and guess what? we did. so i wo
nearly half of its value since january as the company struggles to remake its image. steve, john, you guys are going to debate it. i know you love this one. >> i love to be short this one. i'm short again and when jim cramer came out this morning and talked about pvh and related that to jcpenney sales in izod, stock popped up over $1. i shorted some more. >> he still said he didn't like it. >> he came back and said he didn't like it but the market misinterpreted it. so i went through the circulars before black friday and they undercut macy's on every item. i went through the circulars. couldn't help it. that's the only part of the "times" i was reading that day. but they undercut them by 10% on some items. that means they're going to lose mr money. you can't discount your way to profit apt. ron johnson sold stock way, way, way long ago. his best move since he arrived there. this is going to -- this company is going to have to raise cap fall next year. >> doc, why is he wrong? >> he's wrong because just what he mentioned, about the discounts. because people were complaining they weren'
, creative artists agency foundation, entrepreneur steve portman he ran for gubernatorial nomination a couple of years ago. and it's focused on providing a new kind of education on the ipad for boomers and particularly focused on careers that have social impact. they believe are going to launch in september. i can tell you whether they will succeed or not but i was struck by the fact that this was a significant investment that was made and it was a collaboration between public and private institutions, a development that i'm much closer to and that i mentioned earlier is the film -- [inaudible] we were in partnership with one of the producers of that sound and in fact we have been doing a contest called the marigold ideas in which people over 50 in communities around the country each month get 5000-dollar prices for an idea for social change in their community. one person each month gets to go with the rose color -- rhodes scholar. they're still a couple of months left in the contest so i encourage anybody to enter. it was a film that was made for $10 million it was made upwards of $125 milli
after this. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba divi the great barrier reefith sharks, or jumping into the marke he goes witpeople he trusts which is why he tde with a company that doesn't nickel and dime him with hidden fees. socan worry about other things, like what the market is doing andeing ready, no matter what happens, which isn't rocket scice. it's just common sense, from td ameritrade. >> i'm adam shapiro with the dow reversed its triple digit fall and went positive following optimistic comments from both president obama and house speaker john boehner. on the fiscal cliff negotiations. >>> allstate says superstorm sandy will cost it more than one billion dollars. the insurance company says 2/3 of the losses are in new york state, with the rest in new jersey and other states. sandy is expected to be the second most expensive disaster in u.s. history behind hurricane katrina. allstate is the largest publicly-traded home and auto insurer in the united states. >>> your holiday travel plans will cost you more this year. travel
a difficult time drawing the line completely to him, to steve: as a culprit in these. >> my view is it is the indispensable witness. charlie: the latest portfolio manager charged in this insider trading. >> he will be indicted. he is the means to the end. he is only person who can link the knowledge that came from doctor gilman with cohen and say he knew it came from cheating. so far, a number of people at sac have been criminally prosecuted and some have pled guilty. this is the one location in which the government thinks -- charlie: because matthew thoma gave the information that was inside information to mr. cohen, not labeling it necessarily. let's just say he does not turn off as a witness, is the endgame, listen, we know this is a culture that has no compliance. we want to shut them down and here is how we are going to do it. the control person does not know what they are doing. it is a hedge fund out of control. i think the similar route is not going after mr. cohen. but revoking their brokerage license of sac capital. at that point, you probably would cause the other inve
a couple of people who have been instrumental in pulling this together, steve redburn who has been our colleague and working with us on this project. he'll be writing up a narrative on the event kind of looking at what lessons we've learned from the 1990 summit for today. steve will be with us for this project. also alison grant with the bipartisan policy center and drummond with think center have been helpful. we know that each generation seems to meet -- to meet a moment that needs to overcome thesen triff gal motion of the political process. we don't have markets like greece to help us, we have a sequester, $65 billion, and starting in january 13, we have a range of tax cuts that are due to expire. in total there's a $560 billion swing in the deficit if we simply let the automatic sequesters go into effect and the tax cuts turn off and some other spending also go into effect or 3.7% of g.d.p. that's good muse for the -- nows for the deficit, bad news for the economy, so we may administer the treatment and the patient may die. that's the challenge we're facing as leaders in a divided
on them and they are well prepared to handle this and founder of the firm, steve cohen, is personally responsible for this. cohen said he was present at the beginning of the call and turned it over to his president and said we take these matters seriously and i'm confident that i acted appropriately. nonetheless, you guys, this is definitely a difficult chapter for them because you have a situation in which cohen has been implicated in the events with former trader mathew martoma because he partook in discussions but now the firm they founded in 1992 may be charged on a corporate level. >> kate, you know, another firm -- i think this could be in some ways we've seen it almost a death blow. outside investors even just with the wells notice can often times pull their money. as we pointed out many times, $9 billion of what i've told is 15 billion overall in assets at s.a.c. is either mr. cohen or that of his employees. even if you were to pull out, it remains a huge hedge fund. their investor base is toughened at this point as well. >> those are fair points. there seems to be a growing l
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